Sukanya Samriddhi Yojana: The Sukanya Samriddhi Yojana is a unique scheme that can help build significant wealth. This popular scheme allows you to open an account in your daughter’s name. Operated by the Post Office—one of the country’s major institutions—this small savings scheme is a long-term investment plan that can alleviate concerns regarding everything from your daughter’s education to her marriage.
Additionally, it offers attractive interest rates on investments. This Post Office-run scheme carries zero risk; the government itself guarantees the safety of the investment. Furthermore, it provides an impressive interest rate of 8.2 per cent. 
How much is needed to open an account?
The Sukanya Samriddhi Yojana is a special scheme. To participate, parents can open an account for a daughter who is under 10 years of age. An account can be opened with an initial investment of as little as ₹250. The scheme allows for a maximum annual investment of ₹1.50 lakh.
21-Year Maturity, 15-Year Investment: The Post Office SSY scheme has a maturity period of 21 years; however, parents are required to invest for only the first 15 years. The remaining six years constitute a lock-in period, meaning the account remains operational without requiring further deposits.
How to build a fund of ₹72 lakh
By participating in the Central Government’s Sukanya Samriddhi Yojana, you can accumulate a fund of ₹72 lakh. To achieve this, you need to invest ₹12,500 per month—amounting to the maximum annual limit of ₹1.50 lakh—in the account opened in your daughter’s name. If you open the account when she is one year old, you will invest a total of ₹22,50,000 over the course of 15 years. At an interest rate of 8.2%, upon the completion of the 21-year maturity period, the account holder will receive ₹71,82,119; the interest component alone accounts for ₹49,32,119 of this total.
How the tax benefit works
Previously, tax exemption benefits under Section 80C were available for the accounts of only two daughters. Now, if twin daughters are born after the first daughter, tax exemption benefits will apply to their accounts as well.
To avail the benefits of this scheme, you can open an account at any nearby post office or bank. Investments in the Sukanya Samriddhi Yojana account can be made via cash, cheque, demand draft, or other similar payment methods.